The War Of The Ethereum (ETH) Forks Has Begun

2 years ago · Updated 2 years ago

✍️ 16 September, 2022 - 7:10 👤 Editor: Jakub Motyka

Cryptocurrency exchange Poloniex surprises by announcing its support for EthereumFair (ETF) rather than ETHPoW (ETHW).
The Ethereum (ETH) Merge has caused the appearance of cryptocurrencies that do not agree with the move to the PoS (Proof of Staking) system.

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The first consequences of the Ethereum (ETH) Merge are already here. The cryptocurrency exchange Poloniex has announced its support for EthereumFair (ETF) as an alternative or fork to the Ethereum project for those who want to continue betting on the PoW (Proof of Work), a decision that has stunned the followers of ETHPoW (ETHW).

ETHPoW (ETHW) seemed to be the most accepted fork of Ethereum after the Merge, but the last minute decision of Poloniex to support the other project, that of EthereumFair (ETF), has left the crypto community surprised by this movement.

Poloniex Surprises By Supporting The EthereumFair (ETF) Ethereum Fork Instead Of ETHPoW (ETHW)

Poloniex has ensured that EthereumFair (ETF) has a PoW (Proof of Work) block chain with greater support from the community, something that would have motivated the exchange to make the decision to discard its support for ETHW and, instead of that fork, opt to bet on ETF.

Justin Sun's Poloniex exchange suddenly stated that it has decided to choose EthereumFair, a forked chain launched by the ClassZZ, as the main chain of ETHW tokens. ETF is not the ETHPOW that @ChandlerGuo and others have promoted before. https://t.co/qMk9drZbW1
— Wu Blockchain (@WuBlockchain) September 15, 2022

The consequences of this decision have not been long in coming, and some are already talking about an Ethereum (ETH) fork war that has only just begun. At the moment, the effects of this move by Poloniex are being catastrophic for the price of ETHW crypto ETHPoW, the project that has been left aside in this decision.

The Price Of EthereumFair (ETF) Rises 7.50% In The Last 24 hours, While That Of ETHPoW (ETHW) Falls 70%

After this news was released, the price of EthereumFair (ETF) today, September 16, has risen more than 7.50% in the last 24 hours to reach a price of $19.74. The other cryptocurrency of the Ethereum fork, ETHPoW (ETHW), has seen its price fall by almost 70% to $13.31, thus suffering the consequences of Poloniex's decision.

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Juan Pais

E-mail: juan@criptokio.com

ES: Por mi trabajo de redactor siempre he escrito para otros temas pero la verdad es que a día de hoy lo que más me apasiona es el tema de las criptos. Tengo conocimientos tanto en criptomonedas y wallets como de airdrops y exchanges.

Poseo wallet en Coinbase y Trust Wallet, y cuentas en una variada cantidad de exchanges como Satoshi Tango, Binance, Crypto, Ripio, entre otras.

EN: EN: Because of my work as an editor I have always written for other topics but the truth is that today what I am most passionate about is the topic of cryptos. I have knowledge in both cryptocurrencies and wallets as well as airdrops and exchanges.

I have a wallet in Coinbase and Trust Wallet, and accounts in a variety of exchanges such as Satoshi Tango, Binance, Crypto, Ripio, among others.